Fusion Family Wealth, LLC (Woodbury)

Name: Fusion Family Wealth, LLC
Address: 88 Froehlich Farm Boulevard, Woodbury, NY, 11797
Telephone: (516) 206-1320

Fusion Family Wealth, LLC is a large advisory firm based in Woodbury. It manages $620.03 million of regulatory assets for 1,158 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdictions of California, Connecticut, Florida, and 5 other states.

Fusion Family Wealth provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Fusion Family Wealth: assets under management

The assets under management (AUM) of Fusion Family Wealth, LLC is $620.03 million. The firm's AUM has gone down by -10% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $596.25 million in discretionary accounts and $23.78 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $531.89 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $642.78 thousand.

Fusion Family Wealth has custody of $14.93 million in cash and securities for 73 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 72% of the total AUM. The second-largest asset type is state and local bonds, which make up 18% of the firm’s portfolio. Investments in investment and business development companies form 7% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Fusion Family Wealth, LLC for their services and products based on a percentage of assets under management. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Fusion Family Wealth serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Fusion Family Wealth is high net worth individuals with 126 clients and $553.34 million of assets under management. Among the 11 most similar advisory firms, Fusion Family Wealth has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $620.03 million for 264 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Fusion Family Wealth doesn't advise any private funds.

Careers at Fusion Family Wealth, LLC

The company employs 8 people that are either part- or full-time employees. 50 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative with the state securities authorities.

There are 8 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jonathan Russell Blau	President and chief executive officer	1 Nov 2013	75% - 100%	1976757
Michael Sciortino	Chief operating officer, chief financial officer and chief compliance officer	1 Feb 2014	Other	6312123
Margaret A Iamunno	Chief compliance officer and chief operating officer	1 Jan 2015	Other	5252936
Brett Douglas Stanton	Chief compliance officer and chief operating officer	1 Nov 2016	Other	2721237

Based in Woodbury

The principal office where Fusion Family Wealth, LLC performs its advisory services is located at 88 Froehlich Farm Boulevard, Woodbury, NY 11797, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number (516) 206-1320 or by fax (516) 224-7269. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at fusionfamilywealth.com.